Introduction

Genetic resources ¹ have been a hot topic in recent decades. The utilization of genetic resources creates benefits, and many stakeholders are keen to secure their share of any benefits. As these stakeholder groupings often have divergent interests, this could lead to conflict, so the legal regulation of activities on genetic resources is imperative. The key international instrument for regulating such activities is the access and benefit sharing (ABS) regime under the Convention on Biological Diversity (CBD) (UNGA, 2005, preamble 2). Since its inception, the ABS regime has been criticized on many grounds. Consequently, it has evolved, culminating in the adoption of the Nagoya Protocol in 2010. However, the ABS regime is not the only international instrument that regulates activities on genetic resources. With regard to the marine environment, the United Nations Convention on the Law of the Sea (UNCLOS) is the key international instrument regulating all activities. This work aims to analyse both instruments, identify and assess some of the major problems in these regimes and provide solutions to these problems.